JPMorgan Launches Tokenized Money Market Fund on Ethereum (ETH) as Wall Street Embraces Blockchain

Global banking giant JPMorgan Chase has launched its first tokenized money market fund on the Ethereum blockchain, according to a report. This strategic move marks a significant step in the traditional finance (TradFi) sector's adoption of decentralized technology. The fund, issued as a digital token, represents a share in the JPMorgan USD Government Money Market Fund, allowing for near-instantaneous settlement and increased operational efficiency. This initiative is part of the bank's broader blockchain platform, JPM Coin, and signals a growing trend of major financial institutions moving assets "onchain." The launch leverages Ethereum's smart contract capabilities to create a programmable representation of a traditional financial instrument, potentially unlocking new use cases in collateral management and intraday liquidity. This development is seen as a major validation of blockchain's utility in institutional finance, bridging the gap between conventional banking and the digital asset ecosystem.